NFIB:
If you’re a small business owner, you no doubt have felt you could benefit from some solid advice about running your company.
You may have wanted advice about your management style, hiring employees or realistic feedback about a new direction you want your business to take. You may have considered a consultant, or even a business coach, to help you. But should you shell out your money to hire a business or executive coach to help you solve your problems?
While critics may dismiss the coaching industry as a fad and unregulated, recent objective studies have proven that business or executive coaching is here to stay and could be one of the most effective ways to sharpen your professional edge. One survey by Fast Company Magazine found that up to 40% of Fortune 500 companies hire coaches to improve their businesses - and they wouldn’t be hiring them if there wasn’t a good return on investment.
But under what circumstances should you hire a coach? Here are 5 good reasons to hire one:
* When you need a sounding board - someone outside your company who is entirely objective - regarding new ideas or pressing concerns.
* If you would like someone to give you a realistic assessment of your strengths and weaknesses and steps on how to improve your management or working style.
* If you need guidance on improving soft skills such as time management, organizational skills, communications etc.
* When you need to make a change in your career or business direction and need someone to guide you through the process.
* When you need a ‘reality check’ about issues happening in your business - and even personal - life.
If you decide a business coach is a good fit for what you need, here are pointers on how to select the best one for you.
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